Flipkart launches Big10 programme to mark the completion of a decade

Ecommerce company has been in talks with Tencent and Microsoft to raise $1 billion, 19 months after its previous round of capital-raise from existing investors Tiger Global and others.Payal Ganguly | ET Bureau | March 28, 2017, 19:10 IST

The mark down by Morgan Stanley comes at a time when Flipkart has been in talks with investors to raise about $1.4 billion (Rs 9,200 crore), ET reported last month.BENGALURU: Online marketplace Flipkart has launched its ‘Big 10’ celebrations to mark the completion of 10 years by the e-tailer. As part of the programme, the company will host events till its Big Billion Days sale in October, with each month dedicated to a partner on the marketplace.

“We will be completing 10 years in October this year and it is relevant for the startup ecosystem in India as well. We plan to engage with our partners, customers and employees for the celebration. In terms of innovation, our hack days will be open to outside participation and our flagship technology event Slash N in December will also be a public event,” said Nitin Seth, COO at Flipkart.

The online marketplace started in October 2007 selling books online and has added multiple categories over the years, the current focus being on large appliances, furniture and grocery.

The company has been in talks with Tencent and Microsoft to raise $1 billion, 19 months after its previous round of capital-raise from existing investors Tiger Global and others.

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